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Alibaba Attempting To Rally Off Major Support Level

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February 1, 2016 11:02 am
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Alibaba Group Holding Ltd (NYSE: BABA) shares are trading lower by $1.03 at $66 in Monday's session. The issue, which did not react well last week to a better-than-expected Q3 report, is testing a major support level in Monday's session.

Following a lower open, it continued in that direction but has found intra-day support in familiar area. On January 20, it bottomed at $65.34, on Friday at $65.40 and at $65.36 in today's session.

Since making low, it is struggling to remain in the $66 handle.


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